Gov. Pat Quinn has named his former budget director to the Illinois Finance Authority. David Vaught takes over the expenses-only board position from William Barclay, who resigned. The appointment expires in July. The 66-year-old Vaught served Quinn in a number of positions before retiring in November 2012. As governor, Quinn tapped Vaught to be budget director in 2009 and then moved him to director of the Department of Commerce and Economic Opportunity in April 2012. The finance authority provides access to low-cost borrowing for buildings and other infrastructure erected by public and private institutions that are attempting to foster economic development, create and retain jobs and provide for other improvements.
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